Tuesday, July 24, 2012

Pikeville Renews Expo Center Lease

{Pikeville, Kentucky}...During a regular meeting Monday, the Pikeville City Commission renewed its lease of the Eastern Kentucky Exposition Center. City Manager Donovan Blackburn says the terms of the lease did not change, and the city retains all the rights and privileges to operate the Expo Center as they see fit. The city will control the grounds, management and contracts, but the state still owns the Expo Center. Blackburn says the existing lease is for 99 years, and each year the commission would have to pay one dollar to lease the Expo Center. During the meeting, the commission approved a $99 upfront payment. Blackburn says the cost of operating the Expo Center remained flat from last year to this year at a $650,000 loss which was predicted by the commission and by a feasibility study that was conducted.
However, the Expo Center had a 10 percent increase in it’s customer base last year. Blackburn says, last
year, the Expo Center was used 280 days out of the 365. The commission also approved to open up bids for the beverage rights for the Expo Center. Bids are due in next week.